The Series C funding brings CloudWalk to a $2.15B valuation. Here are the top-line bullets you need to know.
CloudWalk, a fintech company, has raised $150M in a Series C round. The round drew participation from Coatue Management, Valor Capital Group, DST Global, A* Capital, and The Hive, among others.
HOW’S THE COMPANY PERFORMING?
- Brazil-based CloudWalk operates an AI- and blockchain-driven open payment platform for merchants and entrepreneurs in Brazil.
- The company processes over $2.4B in transactions annually and has experienced 5,000% growth over the past 2 years.
- It caters to 150,000 stores across 4,300 cities in Brazil.
- Over the past 6 months, its merchant base has increased from 70K to 150K.
Source: CloudWalk
WHY DOES THE MARKET MATTER?
- The global fintech market is projected to reach a value of $324B by 2026, growing at a CAGR of 23.4%, according to Market Data Forecast.
- The fintech market has seen a funding boom in recent years. In the first 3 quarters of 2021, VCs invested $94.7B across 3,549 deals in fintech companies.
- The global rate of fintech adoption stands at 25%, signaling a growth opportunity for providers and first movers.
